Known processes for producing optically active 2-hydroxycycloalkanecarboxylic acid esters from 2-oxocycloalkanecarboxylic acid esters of the formula (1) by microbial asymmetric reduction include the processes using baker's yeast [Badan S. Deol, et al.:Aust. J. Chem., 29, 2459 (1976); and Dieter Seebach, et al., HELVETICA CHIMICA ACTA, 70, 1605 (1987)] and the process using mold such as Mucor racemosus and the like [Didier BUISSON, et al., Tetrahedron Letters, 27, 2631 (1986)]. However, in any of these processes, their reaction efficiency is low as is clear from the fact that 10 to 50 g dry weight of microbial cells is required to reduce 1 g of a substrate. Further, it is difficult to remove a large amount of microbial cells in the recovering step of the reduction product. A yield of the obtained product was very low. Thus, these processes are not industrially advantageous. Furthermore, asymmetric reduction of 2-oxocycloalkanecarboxylates with bacteria has not been known heretofore in the prior art.